My wife and I would love to hear all of your thoughts on this property in Missoula,Mt. Alittle info before the numbers, its located in a nice central part of the city and zoned for Multifamly. Current homes in the price range of 180k to 275k are selling like crazy as it's a sellers market in the city at that price range. 

Ok to the numbers

Purchase price 235,000 turn key property.  

This is a SFH with a mother in law basement apartment with separate entrances. Zoning allows this. Shared utilities.

Unit 1

1500  square foot 3 bed 1 bath with great curb appeal.  1250 dollars for rent but we think we can get 1350 not including any utilities. Maybe also getting a bit more for pets if it's a good idea to allow them.

Unit 2

Basement 500 square foot 1 bed 1 bath with combined dining/kitchen/living room.  We figure we can rent this for 550-600 conservatively with a 80 utility package that pays all utilities.

For financing we are using 20k from savings, and a loan from a family member for 35k at 4.75% for 15 years.  These combined will make up the 20% down. Plus closing costs. We will be making balloon payments of 5k over the next 7 years to pay back the family loan with roughly 50% of our profit sharing check. The other 50% of profit sharing will be set aside to build a emergency fund for the property.

The rest of the loan 188k is financed at 30 years at 4.25%.

Total combined Principal-Interest-Taxes-Insurance and a 7% maintenance is 1618 a month. Our break even without any utilities. 

With our combined rents of 1800( 1950 higher end) a month we cash flow only 182, but when our balloon payments are over we cash flow 450. 

What problems do you guys see?

What do you guys think of our financing plan?

Any and everything is welcome!

Also any tips or suggestions on how to charge or split up utilities if they are not separately metered?

Thanks so much for all your time this community is awesome! So glad we found it!